AmerisourceBergen Corp. (ABC)
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|It was the negative week for the AmerisourceBergen Corp. (ABC). During the week, the ABC dropped -2.07 points, or -1.26%, and closed at 162.21 on Friday, January 20, 2023. ABC was trading at average weekly trading volume. |
ABC is a member of Health Care Sector. Health Care is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
Long-term trend: [See ABC long-term trend chart]
A long-term uptrend had started on October 28, 2016 at 68.38 and reached 174.63 on December 2, 2022. ABC gained -106.25 points, or -155.38%, in 318 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 148.21 and resistance is at 177.98. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a long-term trend.
Medium-term trend: [See ABC medium-term trend chart]
A medium-term uptrend had started on September 30, 2022 at 135.14 and reached 174.63 on December 2, 2022. ABC gained -39.49 points, or -29.22%, in 9 weeks. The price is now at the 31.45% retracement level.
Weekly Technical Indicators: [See ABC weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since October 21, 2022. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. Use the following link to access a MACD help.
Short-term trend: [See ABC short-term trend chart]
A short-term downtrend had started on December 2, 2022 at 174.63 and reached 161.22 on January 5, 2023. ABC lost 13.41 points, or 7.68%, in 34 days. The price is now at the 7.38% retracement level.
Daily Technical Indicators: [See ABC daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since December 8, 2022. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term downtrend is getting stronger.